- Renowned Nigerian filmmaker Kunle Afolayan has strongly dismissed viral social media rumors claiming he owes FirstBank ₦5 billion for financing his hit movie Aníkúlápó.
- Afolayan clarified that Aníkúlápó was a straightforward co-production between Netflix and his production outfit, Golden Effects Pictures, with zero outstanding liabilities.
- The award-winning director maintained that he enjoys a strong, collaborative partnership with FirstBank and that no litigation of any kind exists between them.
Award-winning Nigerian filmmaker Kunle Afolayan has debunked viral social media reports alleging that he is embroiled in a legal battle over an outstanding ₦5 billion debt to FirstBank of Nigeria.
Eko Hot Blog reports that the director and actor dismissed the claims as completely false in a video broadcast released on Friday.
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He assured his family, friends, and well-wishers that there is no truth whatsoever to the rumors and that neither he nor his company, Golden Effects Pictures, owes any money to any financial institution.
The false reports, which circulated heavily on social platforms, especially X (formerly Twitter), claimed that Afolayan had been served court papers after defaulting on a ₦5 billion production loan obtained from FirstBank to fund his highly successful 2022 film, Aníkúlápó.
The rumors further suggested that the filmmaker had failed to fully pay back the loan within a stipulated three-year period, even after receiving streaming royalties from global giant Netflix.
Addressing the false allegations with a touch of humor, Afolayan remarked that he would gladly accept a ₦5 billion credit facility if any bank was willing to offer it to him today, promising to channel such resources into projects that would benefit Nigeria’s creative economy.
Afolayan explained that Aníkúlápó was structured as a straightforward, clean co-production agreement between Golden Effects Pictures and Netflix.
Under the terms of the deal, all production finances were cleared transparently, and there are absolutely no outstanding financial obligations or liabilities to third parties.
He also addressed his relationship with FirstBank, emphasizing that the institution is a close ally of his brand rather than a hostile litigant.
The filmmaker noted that they have enjoyed several mutually beneficial collaborations in the past and continue to work together on various initiatives.
While suggesting that he knew the individuals behind the smear campaign, whom he mockingly referred to as his “gurus,” Afolayan declined to name them publicly.
He expressed his gratitude to those who reached out to him with concern and urged members of the public to disregard the fabricated report in its entirety.
